Bloomberg News

Schaeuble Says Germany Firmly Rejects EFSF Leveraging Via ECB

October 20, 2011

Oct. 20 (Bloomberg) -- German Finance Minister Wolfgang Schaeuble said there should be “no doubt” that Chancellor Angela Merkel’s government rejects leveraging the European Financial Stability Facility’s firepower by giving it access to European Central Bank refinancing.

A working group of euro region finance ministries is in “intensive negotiations” about leveraging the EFSF, Schaeuble told reporters in Berlin.

Germany will not increase its guarantees for the EFSF, which amount to 211 billion euros, he said.

To contact the editor responsible for this story: Rainer Buergin at rbuergin1@bloomberg.net


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